Ryan

Would Paul Ryan break up the big banks?

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Via the Washington Post:

This implicit support of the Volcker rule— a key feature of the Dodd-Frank financial reform law that prohibits banks from making speculative bets for their own profits—is unlikely to sit well with the likes of JPMorgan Chase and Citigroup. Neither company would comment for this article.

Ryan reiterated his distaste for mega banks in a July interview on CNBC regarding former Citigroup chairman Sandy Weil’s support of breaking up big banks. The congressman, who voted against Dodd-Frank, said the law “will consolidate the system to very large interconnected firms that have political connections.”
He called for replacing the law with a regulatory system that includes greater transparency and “does not put the government in the way of adding more moral hazards to the marketplace and triggering higher likelihood of taxpayer bailouts.”

American Bankers Association chief executive Frank Keating said he hopes Ryan will keep an open mind about financial reform. Keating is encouraged by Ryan’s understanding of “the fiscal cliff, the great fear of national insolvency…the very real challenges facing the American economy.”

Paul Ryan urged to join the Republican Race

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The things to consider about a Ryan candidacy:

There are two great risks to a Ryan candidacy. One: He’ll succeed in turning the focus of the primaries from economic growth to entitlement reform. We can argue about whether that’s a good thing — although Americans care much more about the former than the latter, it may be that this conversation simply can’t wait another moment — but if the party ends up with Ryan’s agenda, it had sure better have Ryan as its nominee too. The worst outcome would be if he shifts the discussion but then ends up losing the nomination, leaving the nominee stuck having to champion Ryan’s goals albeit less effectively than Ryan himself would/could do. And two: A run risks destroying Ryan’s brand. If he jumps in and gets Pawlenty’d in Iowa and New Hampshire, he goes back to D.C. knowing that his reform agenda was rejected even by ardent Republican voters. That would cripple him on the Hill; even if the GOP cleaned up on election day, a new Republican Congress would suddenly be reluctant to pass his budget. He’s taking a big risk on a very long longshot and it could end up setting back not just his political career but his cause.

Beyond that, where’s he getting the money to compete with Bachmann in Iowa, Romney in New Hampshire, and Perry in South Carolina? Having lots of prominent Republican pols behind him will help but more big donors are spoken for with each passing day. His best chance to mount a major campaign, I think, would be if both Daniels and Haley Barbour backed him, which would open up Bush contacts to him on Daniels’s side and RGA donors on Barbour’s end. That could swing parts of the larger GOP establishment from Romney to Ryan, but since the establishment prizes electability as a bottom line, I’m not sure even that would do it. Who’s more electable: Sixtysomething former governor Mitt Romney and his message of jobs and economic growth or fortysomething-going-on-25 congressman Paul Ryan and his message of overhauling grandma’s benefits (which of course isn’t actually his message)? I can kind of see how Ryan would beat Romney in New Hampshire if he rounded up well-heeled donors quickly. Where else does he win, though? How does he beat Perry and Texas’s sterling job numbers? Explain, please. I’d genuinely love to see a path to victory.